Trendlyne Analysis

Nifty 50 continued its climb throughout the day with low volatility to finish sharply higher in line with the Asian indices. All sectoral indices closed in the green, except the Nifty PSU bank index which opened higher than Tuesday’s closing levels but ended in the red at the end of the session. Nifty Auto and Nifty IT extended their gains and traded in the green to outperform the benchmark index. With a positive performance from the Indian indices today, investors will be waiting at the Reserve Bank of India’s Monetary Policy Committee's (MPC) meeting tomorrow

Markets closed up today. Nifty 50 closed at 17,463.80 (197.1, 1.1%) , BSE Sensex closed at 58,465.97 (657.4, 1.1%) while the broader Nifty 500 closed at 15,016.35 (159.3, 1.1%)

Market breadth is in the green. Of the 1,852 stocks traded today, 978 were gainers and 848 were losers.

• Relaxo Footwears, Gujarat Pipavav Port, AIA Engineering, and Cholamandalam Financial Holdings are trading with higher volumes as compared to Tuesday.

• Escorts’ Q3FY22 net profit declines 28% YoY to Rs 201.5 crore as revenue from operations is down 3% to Rs 1,957 crore. Revenues fell because of reduction in sales of agri equipment by 19.8% YoY as rural demand for tractors drops because of late monsoon and delayed harvest. The company’s revenues from construction equipment and railway equipment segments rise 12.8% and 48% YoY, respectively.

• Endurance Technologies' Q3FY22 net profit falls 50.2% YoY to Rs 94.6 crore due to prolonged suspension of operations as a result of the Covid-19 pandemic. The company's total revenue falls 7.3% YoY to Rs 1,896.6 crore.

• Abbot India is rising as its Q3FY22 profit rises 13.7% YoY to Rs 199.7 crore and revenues increase by 12% to Rs 1243 crore.

• Larsen & Toubro receives a contract worth Rs 1,000-2,500 crore from Bangladesh Hi-Tech Park Authority to construct hi-tech IT parks at 8 locations across Bangladesh.

• IRCTC is rising after its Q3FY22 net profit jumps 167.4% YoY to Rs 208.8 crore and revenues rise 141% YoY to Rs 556.5 crore. All-around topline growth across the catering and ticketing segments owing to higher leisure travel lead to the earnings growth in Q3. IRCTC also announces an interim dividend of Rs 2 per equity share.

• Gujarat Gas' net profit falls 68.66% YoY to Rs 122.9 crore due to abnormally high LNG price volatility. The company's total revenue rises 81.62% YoY to Rs 5,276.5 crore despite a 0.6% fall in total sales to 11.39 million metric standard cubic metre per day.

• Tasty Bite Eatables is trading with more than 23 times its weekly average trading volume. Endurance Technologies, Mahanagar Gas, Gujarat Gas, and Sun TV Network are trading at more than four times their weekly average trading volumes.

• Gujarat Alkalies & Chemicals Q3FY22 net profit rises 502.3% YoY to Rs 201.8 Crore. Revenue rises by 64.1% YoY to Rs 1,077.6 Crore. A near 22 percentage points YoY rise in operating margin to 34.08% leads to a huge jump in profits.

• Indraprastha Gas' Q3FY22 net profit falls 2% YoY to Rs 374.8 crore despite a 52% YoY rise in revenues to Rs 2,468.9 crore. Higher realizations and a sales volume growth of 22% YoY aids revenue growth. A surge in gas costs hit the company's net profit.

• Glenmark Pharma rises as the company and SaNOtize Research & Development launch FabiSpray, a nitric oxide nasal spray for the treatment of adult patients with COVID-19 who have a high risk of progression of the disease.

• Aster DM Healthcare is rising as its Q3FY22 profit rises 57% YoY to Rs 168 crore and revenues increase by 19% to Rs 2650 crore. The company continues to leverage its digital presence to provide comprehensive patient care through the 'one Aster' app.

• NMDC's Q3FY22 net profit falls 2.8% YoY to Rs 2,048.4 crore despite revenues rising 35% YoY to Rs 5,874 crore. Higher realizations on iron ore sales drive the revenue growth in Q3. However, profit falls on account of higher operating expenses and an additional royalty of Rs 1,307 crore. NMDC also announces an interim dividend of Rs 5.73 per equity share.

• Bharti Airtel’s consolidated Q3FY22 net profit falls 26.8% QoQ to Rs 830 crore as finance costs rise 10.2% QoQ to Rs 4,367 crore. Revenues increase by 5.4% QoQ to Rs 29,867 crore. The average revenue per user rose 6.5% QoQ to Rs 163 after a rise in mobile tariffs by end of November 2021

Riding High:

Largecap and midcap gainers today include Abbott India Ltd. (16,672.40, 7.13%), Coal India Ltd. (168.60, 5.41%) and SBI Cards and Payment Services Ltd. (863.70, 5.41%).

Downers:

Largecap and midcap losers today include Endurance Technologies Ltd. (1,462.15, -5.44%), Bank of Baroda (114.85, -2.63%) and Adani Total Gas Ltd. (1,765.00, -2.43%).

Volume Rockets

19 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Abbott India Ltd. (16,672.40, 7.13%), Sundaram Clayton Ltd. (4,199.30, 5.55%) and Rain Industries Ltd. (238.60, 5.48%).

Top high volume losers on BSE were BASF India Ltd. (2,958.15, -6.13%), Endurance Technologies Ltd. (1,462.15, -5.44%) and Mahanagar Gas Ltd. (799.30, -3.57%).

Tasty Bite Eatables Ltd. (12,832.35, -0.52%) was trading at 32.4 times of weekly average. Aster DM Healthcare Ltd. (192.95, 4.64%) and Gujarat Gas Ltd. (660.70, -0.62%) were trading with volumes 7.2 and 5.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

6 stocks made 52-week highs, while 6 stocks tanked below their 52-week lows.

Stocks touching their year highs included - Bank of Baroda (1,14.85, -2.63%), Cholamandalam Investment & Finance Company Ltd. (682.95, 3.87%) and Lakshmi Machine Works Ltd. (11,691.95, 5.56%).

Stocks making new 52 weeks lows included - Indraprastha Gas Ltd. (387.10, -1.28%) and Kansai Nerolac Paints Ltd. (510.10, -1.66%).

16 stocks climbed above their 200 day SMA including India Tourism Development Corporation Ltd. (390.15, 4.58%) and Bharat Forge Ltd. (747.90, 3.39%). 13 stocks slipped below their 200 SMA including BASF India Ltd. (2,958.15, -6.13%) and Balaji Amines Ltd. (3,120.45, -3.18%).